Wheeler & Clevenger Oil Co. v. Washburn

KELLER, Justice.

I. ISSUE

To secure credit with Appellant for his company, Appellee signed guaranty agreements contained on both the front and back of an “Application for Credit.” When Appellant sought enforcement of Appel-lee’s guaranties, Appellee claimed that his guaranties were invalid and unenforceable under KRS 371.065 because they did not specify a maximum amount of liability and a termination date. Did the failure to include those provisions in the guaranties render them invalid and unenforceable? Because KRS 371.065’s requirement that a guaranty contain such provisions does not apply…